The Los Angeles Business Journal’s index of 200 largest local public companies moved lower during the week ended June 19.
The weighted LABJ index fell 2.6 percent for the week with nearly two-thirds of the companies moving lower. Decliners outnumbered gainers by 125 to 54.
Among the winners: Hanmi Bank rose 35 percent for the week to close at $2.04. The stock steadily gained during the week after a financial Web site reported that the bank could be acquired by Woori Finance Holdings Co. in Korea.
Shares in Warner Music Group in Burbank slumped 18 percent on the announcement that the company was investing more money in Imeem, a music Web site. The company had told investors last month that it would write off the $16 million already poured into the project.
Stock in THQ Inc. in Calabasas dropped 17 percent to close the week at $7.16 after an analyst at Citigroup cited it as a potential takeover target. “As the U.S. economy slowly climbs out of the recession and equity markets continue their rebound, we expect software merger and acquisition activity to pick up during the remainder of 2009,” analyst Brent Thill wrote in the note to investors.